A Helping Hand for Small Businesses: Health Insurance Tax Credits
This Lewin Group for the Families USA and Small Business Majority report, A Helping Hand for Small Businesses: Health Insurance Tax Credits, analyzes data on business sizes and wages from the U.S. Agency for Health Care Research and Quality and the U.S. Census Bureau. Data were assessed to quantify the number of employers that will be eligible to receive help from the Patient Protection and Affordable Care Act, which is designed to provide tax credits that small employers can use toward the purchase of health insurance for their workers. Lewin was also asked to use its Health Benefits Simulation Model to quantify the number of employers that will be eligible for the maximum tax credit.
Key findings from the report reveal:
- More than 4 million small businesses will be eligible to receive a tax credit for the purchase of employee health insurance in 2010.
- In 11 states, more than 90% of small businesses will be eligible to receive a tax credit in 2010.
- Approximately 1,198,700 American small businesses will be eligible to receive the maximum tax credit in 2010.
- Of the 349,500 small businesses in New York State, 285,000 (81.6%) are eligible for premium tax credits.
Please click here to read the full report.
